Las Vegas NV Area August 2009 REO Inventory Update: Not Much Out There (less than one month inventory!)

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Las Vegas NV Area August 2009 REO Inventory Update: Not Much Out There (less than one month inventory!)

Inventory has fallen since last report (-270 units), Pendings have risen (+9) units Closing data is DOWN at -541 units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.

REO sales accounted for 72% of all Las Vegas Area Valley resale closings in August 2009. REO listings account for only 22% of total resale listings.

Multiple offers are streaming in as banks continue to lower to fire and auction sale prices.

Current Listed Bank Owned Statistics:

Listings (9/15/2009): 2379
Under Contract (9/15/2009): 5245
Sold August 2009: 2874
Absorption Rate: 0.8 Months (THATS LESS THAN ONE MONTH = VERY LITTLE INVENTORY)

View Last Month's Report Here

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Posted by Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com on 10/04/2009 01:12 PM

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Originally posted at: Nevada Real Estate >> Las Vegas Real Estate Specialist: Las Vegas NV Area August 2009 REO Inventory Update: Not Much Out There (less than one month inventory!)

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Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com

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